SE Asia Stocks-End up as chances of U.S. rate hike abate; Indonesia at 15-mth high

By Hanna Paul
Aug 1 (Reuters) - Most Southeast Asian stock markets ended
higher on Monday as poor U.S. economic growth data tempered
expectations about a possible interest rate hike by the Fed in
the next few months.
U.S. gross domestic product rose 1.2 percent in the
April-June period, less than half the 2.6 percent growth
economists had expected.
New York Fed President William Dudley said the Fed should be
cautious in raising rates due to lingering risks to the U.S.
economy.
The likelihood of the U.S. not raising rates any time soon
puts Asia in a better light as growth rates in the region are
higher than expected, said Grace Aller, an analyst with
Manila-based AP Securities.
Indonesian shares closed up 2.8 percent at their
highest in fifteen months, driven by financial and telecom
stocks.
"People are buying heavily into the blue chips that posted
big losses last Friday," a trader said.
Indonesia's annual inflation rate in July eased slightly
from the previous month, the country's statistics bureau said on
Monday. Indonesia's July consumer price index rose 3.21 pct year
on year.
The Philippines climbed more than 1 percent led by
financials and industrial stocks.
Property developer SM Prime Holdings was among the
top gainers in the index, rising as much as 2.7 percent after
posting a 12 percent rise in first-half core net income.
Thailand ended down dragged by financials and
healthcare stocks such as Bangkok Dusit Medical Services Public
Company Ltd.
Thailand's annual headline consumer prices rose for a fourth
straight month in July, driven by higher prices of food and
cigarettes, the Commerce Ministry said on Monday.
The Thai central bank is expected to leave its policy rate
unchanged at 1.50 percent when the policy committee meets on
Aug. 3, according to a Reuters poll.
Vietnam fell as July factory growth dipped to 4-month
low after orders slowed.
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SOUTHEAST ASIAN STOCK MARKETS
STOCK MARKETS
Change on the day
Market Current previous Pct Move
close
Singapore 2892.52 2868.69 0.83
Bangkok 1512.62 1524.07 -0.75
Manila 8069.81 7963.11 1.34
Jakarta 5361.576 5215.994 2.79
Kuala Lumpur 1665.23 1653.26 0.72
Ho Chi Minh 648.38 652.23 -0.59
Change so far
this year
Market Current End prev yr Pct Move
Singapore 2892.52 2882.73 0.34
Bangkok 1512.62 1288.02 17.44
Manila 8069.81 6952.08 16.08
Jakarta 5361.576 4593.008 16.73
Kuala Lumpur 1665.23 1692.51 -1.61
Ho Chi Minh 648.38 579.03 11.98
(Reporting by Hanna Paul in Bengaluru; Editing by Sunil Nair)